Management Information System-MIS

FYI is the company which sells sunglasses, frame, contact lenses etc., The company operated its business under the optical industry. Above report includes the overall concept and features of Expert System, Decision-Support System and the Executive Information System. The difference among the three of them above. Report carried forward with future trend, challenge or issued which are faced by company under Expert system and DSS. The report ends with the best type of DSS which can be utilized by company to run their business.

Discussing the overall concept and features decision support system, Executive Information System and Expert System-

Decision Support System (DSS):

It is the computerized program which is utilized for supporting judgements, determination and several courses of action into the company or businesses. Decision Support System shifts by and analyze wide range of data, further compiling the comprehensive information which could be utilized for solving problem and into the decision-making. The typical information could be utilized by the DSS contains target or project revenue, figure of sales or the past ones from various time period, and another data related to the operation or inventory (Zhang, 2016). The decision support system collects and analyze data, synthesizing data for producing comprehensive reports of information. It is different from general operation application, which function is to just collect the data. Need Assignment Examples?Talk to our Experts!

Features-

• The DSS is computer-based system which is designed for interactive utilization of decision maker or the staff user who are controlling sequence of operation and interaction performed.
• The decision maker are not intended to be replaced, but still the DSS could support decision maker at every level of company.
• It is the Web-based system, which delivers a scalable, interactive platform for the rapidly developing and the deploying project.
• DSS is helpful in improving accuracy, quality, timeliness and overall effectiveness of the particular decision or relative decision-making.

Executive Information System (EIS):

It is the decision support system which is utilized for assisting the senior executive into the decision-making procedure. This could be done by rendering easy access to essential data required to gain strategic goal within the company (Nawaz and Gomes, 2017). Executive Information System generally feature the graphical display on the easy-to-use interface. It can be utilized through many types of companies for monitoring performance of enterprise along with identifying the problems and opportunities. EIS is management information system that support, facilitates and develop decision for the top executive by rendering them easy access to external and internal both information.

Features-

• This EIS offers the secure reliable, confidential access into the conjunction with access process.
• It could be used from various places (Kanishcheva and et.al., 2017).
• This system contains individual friendly interface that consist of graphic users.
• EIS provides company with maximum capability an information system could render.
• It is helpful for companies to identify the opportunity for FYI.

Expert System:

Expert System is computer program which utilize artificial intelligence for simulating behaviour of the human and judgement or an organization which had experience and expert knowledge into the particular field. This system incorporate knowledge base that contains gathered experience and rule engine or inference which described the program. The current system may include capabilities of machine learning which allow them to enhance their performance base on the experience. Expert System had played a big role in several industries including telecommunication, healthcare, financial services, transportation, consumer service, manufacturing, video games, written communication and aviation.

Features-

• Expert system helps to distribute expertise of the individual.
• Cost of consultation to the expert can be decline for several domains that are medical diagnosis.
• They utilize inference engine and knowledge base.
• This Expert system could contain knowledge from more than one human expert hence developing solution could become more efficient (Koivisto and Hamari, 2019).
• The human expertise can be easily disturbed.
• Complex problem could be easily solved by deducing new fact by existing fact of the knowledge.

Difference between Executive Information System, Decision Support System and Expert System-

Future trend, challenges or issue of the Expert System and Decision Support System-

Expert System:

Future trend-

It is the advanced programming technology which is heard by many of the individuals and would have an opportunity to utilize in near future. It renders project leader and software engineer with new programming capabilities to incorporate symbolic representation of the heuristic and article knowledge into the software package. They had developed more flexible, powerful and efficient approaches for emulating human decision-making procedure. Some new approaches which have been developed by the researcher is based on newer method of artificial intelligence (AI) into the businesses (Thatcher and et.al., 2018). Along with machine language, and the approaches for data mining with the mechanism of feedback.

The modern system had developed new knowledge more easily and thus further updating themselves easily. This specifies system can be generalized from the existing knowledge better and dealing with wide amount of the complex data. The big data's are subjected here. These types of expert systems are known as “intelligent system.” It will be more in trend and used by companies greatly for performing their jobs. Order assignment help from our experts! 

Challenges or issues-

The expert system works only when the expert exists. While making a decision no common sense is to be utilized. There is no creative responses which have been developed by human experts very significantly. The logic and reason behind the decision-making can not be easily explained within expert system. Complex processes are not easily automated by through expert system (Guha and Kumar, 2018). There is no flexibility and the ability for adoption to the fluctuating environments. The major challenges of Expert system emerge when size of knowledge base enhanced. The complexity in processing is increased. An Expert system with the 100 million rules, it has become obvious that particular system will be complex and thus many computational problem can be faced by them. Inference engine will process huge amount of the rules for reaching the decision. Adding a new piece of knowledge into the business can be challenging. The modern approaches which rely on methods on machine learning. Database and system integration is difficult for the early expert system because tool are eventually in platform which is not familiar with the corporate environments.

Decision Support System:

Future trend-

In future the Decision Support System will be more practical, it would be more creative. Latest and advance development on the computer technology has initiated in improving DSS. Further this system will be playing a large role for cognitive psychological, information economics, political science, management science, behavioural theory and computer science. The DSS will be improved for applying more unstructured problem. The alternatives can be developed independently through this. Further, long range of decision support system has been taken into the perspective for the research (Soomro, Shah and Ahmed, 2016). The research will be conducted on the basis of both group and individual. Enhancement of the DSS Application with Ethics and Values across the organization. The main research has been undertaken through Human-machine Interface and their impact on the learning and creativity. The new products of the DSS are Incorporating Artificial Intelligence, Intelligent DSS. Focused version of the DSS for particular set of the applications or users. The user -friendly capabilities are to be continuously developed. The Decision Support System had continues to mature and develop.

Challenges or issues-

The costing of decision-making is to be decrease once the decision support system is to be installed. But the implementation and development of DSS need high investment of monetary. Further the customization could attract huge cost. Thus, company is not getting with the customized Decision Support System as pet the particular need. An DSS promote relegate subjectivity and objectivity, that could have serious impact on the particular business. But the decision maker are fully depended on computerized decision-making and further, so they are not utilizing their knowledge into the business as whole (Khanam, Siddiqui and Talib, 2016). There is shift into focus and the decision makers could not have the skills in future due to the excessive dependency on DSS. The decision-making system within the organization could sometime resulted into the information overloaded. Each and every bit of information is specifically not important in all decisions. Lack of the technological knowledge needed for using an DSS. The support of top management is lacking to the great extent as all the decision-making is done through digital technology which can bound them to provide top-level of support for system.

Best type of decision support system which is to be utilized for supporting company-

There are four type of the Decision Support System that can be used by FYI. These are Data-driven, Model-driven, Knowldege-driven and document driven. The Model based DSS can be utilized by FYI. In this type of DSS company can utilize the single model or can particular use combination of two or more models, which is depended on particular need of the user. This combined model helps the FYI in analyzing and solving complex data.

This model is not data intensive. It had wide range of scope for the model-driven DSS and thus it can be further increased through integrated application for web-based (Abualoush and et.al., 2018). It has a clear objectives and particular purpose. The demand forecasting of product can be specifically done which state that they could have an appropriate forecasting of product and so further they can place a product into the marketplace. Budgeting and marketing decision can be accurately taken into the company so that they can have immense growth into the FYI. Order Finance Homework Help from our experts! 

The production forecasting decision could be done by FYI through this model they can effectively render production decision-making. Project can be planned successfully through this model and thus further by implementing this model into the company helps them to operate their business activities. The decision-making regrading investment could be done greatly. FYI can have more alternatives available to them through which thy can examine various option to be successful within the business operations. They could also easily gain insights of how the procedure of working is being performed. With the help of these model the better and effective decision are to be taken into the company for achieving the overall objective and goal of FYI.

The cost within organization can be reduces and thus time taken in decision-making could be reduced, particularly cycle time of decision process could also be reduced (Nascimento and et.al., 2018). This directly declines clerical works into the business process. It is the model which is utilized for specific decision-making. The problems can be further identified and dealing with the uncertainty within the business. This system of DSS is very helpful for company to gain overall objective and achieve huge revenue & profit further.

CONCLUSION

From the above study it can be concluded that the management of information system is essential for a company. The company can effectively perform their operational and functional activities of organization. It can be stated by using the some management information system into the company an individual could effectively use this for gaining their overall objective and goals. The appropriate decision-making can be done by company through these various system that saves their time and costing of decision-making within the company. An organization could sustain and perform in market well if they are having an accurate decision-making process across organization. The Decision Support System can be helpful for company to test individual, processes and the several technologies within the context of organization. The coordination, visualization and analysis of information among the organization can be done effectively through which a company could gain huge success.

For more - Strategic Information System for Students

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